Advocate Health Care

Compensation

Full Description

Major Responsibilities Develop detailed financial models to assist management in making strategic business decisions. Present information in a clear and concise manner. • Calculate key investment metrics including the Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period. • Develop financial models with the ability to run various scenario analysis dependent on key variable to gauge risk as well as the overall sensativity of key assumptions. • Calculate key financial and operating ratios the developed financial models. Understand their impact on Advocate operations. • Monitor performance compared to projections. Prepare reports for sites and Senior Management relative to actual performance versus projections. Explain variances and key drivers of change. • Develop PowerPoint presentations that clearly present complex financial information in a user friendly format for "non-financial" audiences. • Analyze internal and external financial statements and understand key drivers of financial performance and operational metrics. • Develop and prepare reports analyzing performance and identifying opportunities for revenue enhancement and/or cost management. • Work closely with other Advocate departments including Business Development, Financial Decision Support, Budgeting to collect key data. Work closely with sites to gather and understand key data. • Develop financial models that include volume, revenue and expense components that build comprehensive financial statements including the Income Statement, Balance Sheet, and Statement of Cash Flow. Develop financial assessments of potential acquisition targets (hospitals and physicians practices) as well as competitor profiles. • Assist in the development of financial assessments of acquisition targets including their historical financial performance and key operating metrics (e.g., admissions, LOS, market share, etc.). • Assist in the development of consolidated operating statements that show the impact of merging a new entity into Advocate. These statement will include the combined financial statements and key financial ratios. Identify and present the impact of the consolidated financial ratios on Advocate's bond rating. • Work closely with Business Development and Financial Decision Support in gathering information to prepare the financial assessments. • Provide recommendations to leadership within Finance regarding strategic decisions that impact Advocate Health Care, including hospital operations and ambulatory development (including physician employment / acquisitions). Finance resource for System projects, committees and special projects. • Serve as the System finance resource for System-wide and/or site specfic projects. • Demonstrate the ability to interact with Senior Management at Advocate facilities --- representing the System's goals and financial alignment. • Sit on various System-wide committees as the System financial representative. Serve as the "financial voice" regarding recommendations and implications of various decisions. • Serve as a resource to the System-wide Monthly Operating Reveiw. Attend select meetings and follow-up on key initiatives. • Serve as a resource to Advocate in System-wide cost margin management effort in quantifying financial impact of both revenue and expense management initiatives. • Work closely with the Supply Chain and Clinical Effectiveness departments. Serve as a financial resource in the documentation of savings. Finance resource for monthly financial reviews and annual mid-year forecast, budget preparation, and capital review. • Assist Management in the development of mid-year forecasts and budget preparations. Assist Budgeting department in the development of key assumptions and the review of submitted budgets. • Serve as a resouce to the Capital process. Assist in the design and development of the annual Capital model. Review Capital submissions. Meet with sites to review Capital submissions. • Work closely with other departments in the development of key assumptions for the Budget and Capital model (e.g., inflation, merit increases, volume, etc.). Education/Experience Required: • BA in business or BS in finance or related field (e.g., accounting, economics, etc.) • 3 years of finance / business management experience and • 2 years of health care experience --- in a provider setter or health care consulting (note: degree in public health or masters in health administration would count towards health care experience). • Experience in the application of financial metrics (e.g., NPV, IRR and Payback Period). Knowledge, Skills & Abilities Required: • Strong Microsoft Office skills (Excel, PowerPoint, Word). • Strong writing skills. • Strong financial pro forma development skills. • Attention to detail. • Good presentation skills • Not required Physical Requirements and Working Conditions: • Ability to work under time pressures and meet deadlines with overtime as needed. • Ability to communicate effectively. • Ability to work independently. • Ability to learn and pick up on new concepts quickly. • Ability to work as part of a team. • Ability to travel to/from Advocate sites This job description indicates the general nature and level of work expected of the incumbent. It is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities required of the incumbent. Incumbent may be required to perform other related duties.